Emirates NBD FlexiSweep Account

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Emirates NBD is well known for its tailor-made banking products that cater to the customers’ requirements. FlexiSweep Account is one such fixed deposit account that automatically transfers funds to your savings or current account to meet the shortfall, thus acting as a backup deposit for your other bank accounts.

Emirates NBD FlexiSweep account requires a low minimum deposit of AED 1. It is an interest-bearing account with a minimum tenure of three months. The interest offered depends on the tenure of the deposit. Additionally, the account allows partial withdrawal making it a desirable option during emergencies. Early closures, however, are not allowed.

Features and Benefits of Emirates NBD FlexiSweep Account

FlexiSweep account from Emirates NBD comes up with several benefits for its account holders. It offers easy transfer of funds to any savings or current account and also offers flexible tenure, the minimum term of investment being three months.

● Low Minimum Deposit Amount - Emirates FlexiSweep account can be easily opened with a nominal amount of AED 1 or more, making it very affordable for customers.

● Minimum Tenure of Three Months - The FlexiSweep account can be opened for multiple terms; however, the minimum tenure for deposit is three months.

● Partial Withdrawals - Emirates NBD allows partial withdrawal of funds in the multiples of AED 1 while still earning interest on the remaining amount. The funds can be transferred to any of the account holder’s savings or current accounts.

● Higher Interest Rates - FlexiSweep account by Emirates NBD offers a higher rate of interest than a normal savings account. The rates, however, depend on the amount deposited and the tenure of investment.

●  Premature Withdrawals not Allowed - Emirates NBD does not allow premature withdrawal in the FlexiSweep account. However, the account holder can make partial withdrawals into his/her savings or current account during emergencies.

● Other Banking Facilities - The FlexiSweep account holders get 24*7 access to the deposits through mobile and net banking. Moreover, the amount can be withdrawn in full or partial after the minimum tenure of three months is over.

Eligibility Criteria to Open the FlexiSweep Account in Emirates NBD

An individual requires to fulfil the below-mentioned eligibility criteria to open a FlexiSweep account in Emirates NBD.

● Minimum Deposit - A minimum deposit of AED 1 or more is required to open the FlexiSweep account.

● An Active Saving/Current Account - An individual needs an active saving or current account to open an Emirates NBD FlexiSweep account.

● Furnishing Required Documents - An applicant needs to furnish all the requisite documents as per the bank’s requirement at the time of opening the Emirates NBD FlexiSweep Account.

Documents Required to Open a FlexiSweep Account in Emirates NBD

Below is the list of documents required to open a FlexiSweep Deposit Account in Emirates NBD for individuals and non-individuals.

Account Type Documents Required
Individual ● Copy and original passport for validation ● Sponsor’s No Objection Letter ● Salary certificate (in case of salary transfer account) or ● Appointment letter ● Payment Slips (less than 3 months old)
Non-Individual ● Commercial or federal registration certificate ● Business Commencement Certificate (for joint-stock companies) ● Power of Attorney (if applicable) ● Passport copy of authorised signatories ● BOD resolution that specifies the title and designation of the official who is opening the account ● Additional documents may be required as per the bank’s discretion

How to Open a FlexiSweep Account in Emirates NBD?

To open an Emirate NBD FlexiSweep account, an individual can visit the bank’s website or the nearest local branch. Given below are the ways to open an account.

● Opening Emirates NBD FlexiSweep Account Online - An individual can visit Emirates NBD’s official website and apply online. Subsequently, the individual requires to fill in the details. The bank representative will later contact them for further account opening process.

● Opening Emirates NBD FlexiSweep Account Offline - An individual can also visit the local branch along with all the documents. The banking personnel will guide him/her through the application process.

Frequently Asked Questions

Q1: What is the minimum amount that I need to deposit for opening a FlexiSweep account in Emirates NBD?

Ans: An individual can open an Emirates FlexiSweep account with a minimum investment of AED 1.

Q2: What is the minimum duration of investment for the FlexiSweep account in Emirates NBD?

Ans: The minimum term of investment in Emirates NBD FlexiSweep Account is three months, while the investment gets higher returns for a longer period.

Q3: What are the documents required for an individual account type in Emirates NBD FlexiSweep account?

Ans: A customer willing to open an individual FlexiSweep account will have to submit a copy of a valid passport and bring the original passport for validation. Additionally, the individual also requires to furnish a salary certificate, No Objection Certificate (NOC) from the sponsor, payment slips or an appointment letter.

Q4: What are the documents required for a public shareholding company to open a FlexiSweep account in Emirates NBD?

Ans: A public shareholding company will have to furnish all the required documents as mentioned for non-individuals. Along with that, they will also have to submit the list of names and addresses of all the shareholders where the shareholding exceeds five percent. 

Q5: Can I withdraw funds from my Emirates NBD FlexiSweep account before maturity?

Ans: No, the amount in the FlexiSweep account cannot be withdrawn before the maturity period; however, partial withdrawal of the funds is allowed.